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Financial Development in Sub-Saharan Africa

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2. <strong>Sub</strong>-<strong>Saharan</strong> <strong>Africa</strong>: Estimation Results of Impact of <strong>F<strong>in</strong>ancial</strong> <strong>Development</strong> on<br />

Growth Volatility .............................................................................................................................. 15<br />

3. <strong>Sub</strong>-<strong>Saharan</strong> <strong>Africa</strong>: Drivers of <strong>F<strong>in</strong>ancial</strong> <strong>Development</strong> ................................................ 19<br />

4. <strong>Sub</strong>-<strong>Saharan</strong> <strong>Africa</strong>: Top Rank<strong>in</strong>g of Coefficients between the Distance to the<br />

Benchmark and Detailed Institutional Quality...................................................................... 22<br />

5. Expla<strong>in</strong><strong>in</strong>g Income Inequality ................................................................................................. 30<br />

6. Determ<strong>in</strong>ants of Female Labor Force Participation ....................................................... 31<br />

7. <strong>Sub</strong>-<strong>Saharan</strong> <strong>Africa</strong>: <strong>F<strong>in</strong>ancial</strong> Sector Supervisory Standards ..................................... 41<br />

8. Impact of Decl<strong>in</strong>es <strong>in</strong> Commodity Prices and <strong>F<strong>in</strong>ancial</strong> Sector Fragility ................ 45<br />

A.1.1 <strong>F<strong>in</strong>ancial</strong> Sector <strong>Development</strong>, Growth, and Volatility: Key Variables and<br />

Sources ............................................................................................................................................... 52<br />

A.2.1 Drivers and Impediments of <strong>F<strong>in</strong>ancial</strong> <strong>Development</strong>: Data Sources and<br />

Description ........................................................................................................................................ 54<br />

A.3.1. Data Sources and Description ........................................................................................ 55<br />

Box<br />

1. Measur<strong>in</strong>g <strong>F<strong>in</strong>ancial</strong> <strong>Development</strong> and Inclusion ............................................................ 4<br />

INTERNATIONAL MONETARY FUND v

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